New Delhi: Congress leader Manish Tewari on Saturday said that the downward spiral of Gross Domestic Product (GDP) is because of the “Gujarat Model of Governance” and the government has eroded confidence of businessmen due to misuse of ED and CBI.
He accused the government of misusing the Income Tax Department, Enforcement Directorate and the Central Bureau of Investigation (CBI).
“The reason why GDP has come down to 4.5 percent is nothing to do with the economy. It has everything to do with GMG which stands for the Gujarat Model of Governance. The misuse of Income Tax Department, Enforcement Directorate and the Central Bureau of Investigation (CBI) by Bharatiya Janata Party government has eroded confidence of business people on the economy,” Tiwari told ANI.
He said former Prime Minister Manmohan Singh knows how to run the economy.
The economic growth slowed to 4.5 percent in the July to September quarter from 7.1 percent in the corresponding period of last year, the government data showed on Friday.
The economy had a weak performance last quarter with the GDP growth rate dropping to 5 percent. The slowdown in Q2 FY20 was largely due to a sharp dip in the manufacturing sector, Ministry of Statistics and Programme Implementation said.
The weak GDP growth in Q2 was also caused by grim industrial output data which contracted 0.4 percent during the quarter against 3 percent expansion in the preceding three months.